Personal loans in Tyrrell County, NC: what to know before you borrow

Tyrrell County at a glance

Source: Census Bureau ACS 5-year estimates, 2020 to 2024, for Tyrrell County. Estimates carry margins of error, and your own income, credit and debts decide what a lender offers.

What Tyrrell County residents do for work

Employment among Tyrrell County residents centers on education and health care (22%), with other services (17%) and construction (16%) next. Relative to the rest of our Carolina county set, Tyrrell County is heavier in other services (17% against 5%). Which industry you work in changes the paperwork a lender will ask for, so ask what documents they accept before you apply.

A median hides the edges. The ACS counts 43% of Tyrrell County households under $35,000 and 13% at $100,000 or higher, with 3% above $200,000. Tyrrell County trails the typical place in our set by 13.1 points at the top of the scale and exceeds it by 14.1 at the bottom. The Gini index for the area is 0.42, on a scale where higher means a wider gap.

Residents and homes in Tyrrell County

The median resident of Tyrrell County is 47.8 years old, and 13% of adults 25 and older hold a bachelor's degree or more. Tyrrell County is older than typical by 5.5 years and less likely to hold a degree by 10 points.

By structure type, 66% of Tyrrell County housing units are detached single-family homes and 0% are in buildings with five or more units. Tyrrell County has fewer large-building apartments than the middle of our set, by 4.3 points.

Running the numbers for Tyrrell County

Median rent in Tyrrell County ($644) runs 19% of the median monthly household income ($3,474 before taxes). The 30% yardstick works out to $1,042. For total debt payments, 36% of gross income is a common benchmark. At the median that is about $1,251 a month, though lenders choose their own cutoffs. Home prices sit near 3.9x the median household's annual income.

Loan lessons from the Tyrrell County figures

52% of mortgaged Tyrrell County owners spend 30 percent or more on housing, a high share in our Carolina county set. Using equity for anything but essentials adds risk to the home.

At 46% with 45-minute-plus commutes, Tyrrell County drivers log more miles than most in our Carolina county set. A reliable vehicle is not optional for them, which is why auto repair loans and emergency expenses come up so often.

At 2.8%, the ACS unemployment rate in Tyrrell County is among the lower ones in our Carolina county set. A strong job market helps verification; your credit still sets the price.

Where Tyrrell County ranks

Out of 146 Carolina county places in the data, Tyrrell County lands with a median household income of $41,685 (142nd highest of 146), a median gross rent of $644 (146th highest of 146), and a median home value of $164,500 (104th highest of 146).

For scale, look at two North Carolina places of similar size: Hyde County ($53,713 income, $1,263 rent), where Tyrrell County runs 22% below on income and 49% below on rent and Graham County ($49,684 income, $676 rent), where Tyrrell County runs 16% below on income and 5% below on rent. Differences like these are why a loan that suits one town can strain another.

Tyrrell County in brief

Largest communities in Tyrrell County, by 2020 to 2024 population: Columbia (1 Census places in all). County-wide figures here include Columbia and every smaller community around it.

Do this before signing in Tyrrell County

• License check for Tyrrell County borrowers: the NC Commissioner of Banks lists licensed consumer finance companies.
• Refuse any upfront fee. Real lenders take fees out of the loan or bill them later; the scam guide shows the common pitches.
• Take a day to review a contract. A lender that rushes you has told you something.
• Keep every document in one folder: disclosure, agreement, payment confirmations.
• Get the same four numbers from every lender: what you receive, the APR, all fees and the total you will repay.

Where people live in Tyrrell County

1 incorporated municipality and 0 census-designated places lie mainly in Tyrrell County.

Tyrrell County housing stock

Detached single-family houses make up 66% of Tyrrell County's housing units, compared with 65% across North Carolina. After that, the largest category is mobile home at 29%. Detached houses (66%) bring roof, HVAC and plumbing bills that are a common reason Tyrrell County owners borrow.

Eight income bands for Tyrrell County

27% of Tyrrell County households earn less than $25,000 a year, against 16% across North Carolina; 13% earn $100,000 or more. Where a Tyrrell County household sits on this ladder shapes a realistic loan size far more than the county median does.

Neighbors of Tyrrell County: people and schooling

Five neighbors within 30 miles, compared on age, schooling and poverty rather than money alone. The most educated is Dare County at 43% with a bachelor's degree.

Tyrrell County's outlier numbers

Out of 100 North Carolina counties, Tyrrell County's most unusual ranks are on six-figure households, rent, long commutes, household income.

• On six-figure households (13%), Tyrrell County ranks #1 lowest of 100 statewide, against 26% for the middle Carolina county. Smaller loans are the local norm.
• Tyrrell County: $644 a month for rent, #1 lowest of 100 in North Carolina. Lower rent leaves more slack for a payment.
• Long commutes puts Tyrrell County at #1 of 100 among North Carolina counties (46%). Car repairs are a frequent emergency here.
• Tyrrell County: $41,685 for household income, #1 lowest of 100 in North Carolina. Free and low-cost help is worth a call first.